Human Capital Investment andPopulation DynamicsInauguraldissertationzur Erlangung des akademischen Gradeseines Doktors der Wirtschaftswissenschaftender Universit˜at Mannheimvorgelegt vonEdgar-Csaba VogelMannheim, 2010Dekan: Prof. Tom Krebs, Ph.D.Referent: Prof. Axel B˜orsch-Supan, Ph.D.Korreferent: Prof. Dr. Andreas IrmenDatum der mundlic˜ hen Prufung:˜ 1. Juli 2010iiAcknowledgmentsThe fact that this thesis has only a single author suggests that this is the achievement ofonly oneperson. Thisis, however, onlypart ofthe truth. Without the helpand supportofmanyothersitwouldhavebeenmuchharder{ifnotimpossible{toﬂnishthisdissertation.Therefore, I want to take the chance to thank all those who deserve the credit for theirsupport through the last years.First, I would like to thank my supervisor, Prof. Axel B˜orsch-Supan, for his help andsupport. Ilearnedverymuchfromhiscommentsandsuggestionsandmyworkwasinspiredby his critical and unconventional way of thinking about research. Further, I am greatlyindebted to Prof. Alexander Ludwig for his continuous support and encouraging words.Working together was a real pleasure. The joint work and our discussions shaped myway of thinking and doing research. The fruits of this cooperation are chapters 4 and 5.Moreover I thank Prof. Andreas Irmen for numerous discussions and comments. Specialthanks go to Thomas Schelkle for the productive cooperation on chapter 5.